What do you believe is the single most important factor driving up the cost of living in Nigeria?

Profit Before Tax for the period increased by 35 percent year-on-year (y/y) to GHS 700.3 million, driven by growth in interest income and supported by a 21 percent year-to-date increase in customer deposits and an increase in net fees and commission income.

This strong performance was primarily driven by a significant increase in customer deposits year-to-date (YTD), coupled with dedicated efforts at optimizing operational efficiency.

It was also due to the Bank’s strategic shift to a strong focus on sales, transaction banking and a customer-centric approach.

Total revenue increased by 5 percent y/y to GHS 1.89 billion at 1H 2024. Net interest income grew by 5 percent y/y to GHS 1.43 billion in 2024, with net fees and commission income also increasing by 28 percent to GHS 245.4 million.

Increased earnings from electronic services, trade services, processing and facility fees drove the net fees and commission growth over the half-year period. Additionally, net trading income contributed GHS 211.8 million to revenue in 1H, 2024.

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